Universal Music Group has addressed concerns regarding the proposed $775 million acquisition of independent music company Downtown Music by offering an unspecified remedy to the European Commission.
UMG said the remedy proposal followed "constructive conversations" with the Commission. "We have submitted a robust remedy that comprehensively addresses the Commission's only remaining concern," said UMG in a statement. "This deal is about offering independent music entrepreneurs access to world-cl...

ICMP, the global trade body representing the global music publishing industry, has welcomed Believe Music Publishing, an affiliate of Paris-based music company Believe, to its global membership.
Believe has joined ICMP’s Professional Membership category of shortlisted companies around the world. The membership gives Believe access to and engagement with ICMP’s advocacy, data, legal and anti-piracy work. ICMP and Believe said they will be working "to optimise the business and legal environment f...

beatBread, the funding platform for independent labels and musicians, unveiled that it has provided over $100 million in funding to artists and labels since it launched five years ago.
beatBread was founded by Peter Sinclair, who passed earlier, to provide artists and labels with transparent, flexible financing. Over the past five years, the platform funded 1,700 creative projects in 42 countries. The music represented in these deals generated 67.6 billion all-time streams, with 13.6 billion o...